Will The Government Shutdown Affect Your Closing?

If you have a closing scheduled this week or next, the government shutdown cause your closing to be delayed. Depending on the type of financing you’re using you may experience delays. And with the IRS on limited staff, obtaining tax return transcripts may be difficult. Also, rural loans under USDA will be on hold. My sources tell me most of our larger lenders have work arounds in place to get buyers to closing.

However the work around we don’t have in place is for flood insurance. If your lender requires flood insurance in order to close, you will be delayed as new policies are not being issued by the NFIP (National Flood Insurance Program). But here’s a tip – if your seller has a flood insurance policy in place, check with their insurance agent to see if it’s transferable. You may be paying a higher premium but as least it will get you to the closing table.

If you have any questions or need help with your closing, please call Phyllis Staines at (904) 476 – 7653 or email pstaines@aol.com..

Posted on December 27, 2018 at 6:26 pm by Phyllis Staines, Realtor

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Please call Phyllis directly at 904-476-7653 or email
pstaines@aol.com. How may we help you?

Office Address

RE/MAX Coastal Real Estate

250 A1A North, #500

Ponte Vedra Beach, FL 32082

(904) 285 - 5640 Main Office
(904) 476 - 7653 Direct

Directions:
Take JTB south to A1A towards Ponte Vedra. Go thru two lights: Marsh landing parkway and Marlin. After you pass Marlin you will come up to an office park where Zoe's kitchen is. We are in the very next office park.